Below are some in-depth details about diamond ring insurance cost.
Diamond Ring Insurance Policies
There are many ways to ensure a diamond engagement ring. Most sentimental items such as engagement rings, some gadgets, etc., can be covered under the personal property coverage in a homeowners’ policy. Hence, you can avail diamond ring insurance as an extension of your homeowners' policy. However, this option is limited to a certain dollar value.
Another option is to choose any companies that specialize in insuring diamond jewelry pieces. This will also offer a better coverage when compared to the homeowners’ policy. In certain insurance schemes, the insurance company will also replace the lost or stolen diamond instead of paying cash.
Average diamond ring insurance cost is around $1 to $2 for every $100 work that is required to replace your diamond engagement ring. In simple words, if the cost of your ring is $9000, you will have to pay about $90 to $180 annually in order to ensure it.